Zijin Gold International's stock surged 6.23% during intraday trading on Tuesday, as investors reacted positively to the company's major acquisition announcement and favorable market conditions for gold miners.
The sharp rise follows Zijin Gold International's announcement that it will acquire Canada's Allied Gold for approximately C$5.5 billion ($4 billion) in cash. The deal represents a significant expansion of the Chinese miner's global footprint and comes at a time when gold prices have reached record highs above $5,100 per ounce.
Analysts note that the acquisition provides Zijin with valuable international assets while leveraging its strong financial position. The transaction is expected to close by late April 2026 and is seen as strategically timed to capitalize on the current gold market environment, where high prices are boosting profitability across the mining sector.
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